Ped prints brochures for clients and uses job order costing. He applies his overhead cost to jobs each month by adding 15 percent to prime costs. In December, he had the following job activity: Materials Beginning Inventory Direct Labor Job Added Added P 28,250 P 8,000 P 12,000 P 13,000 43 P 18,000 P 15,000 44 45 Job 45 was incomplete at the end December. Determine the cost of jobs completed in December. 2. Cost of WIP, end. (per Job) 1.

Ped prints brochures for clients and uses job order costing. He applies his overhead cost to jobs each month by adding 15 percent to prime costs. In December, he had the following job activity: Materials Beginning Inventory Direct Labor Job Added Added P 28,250 P 8,000 P 12,000 P 13,000 43 P 18,000 P 15,000 44 45 Job 45 was incomplete at the end December. Determine the cost of jobs completed in December. 2. Cost of WIP, end. (per Job) 1.

Name: Ped prints brochures for clients and uses job order costing. He appli
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Description: Ped prints brochures for clients and uses job order costing. He applies his overhead cost to jobs each monthby adding 15 percent to prime costs. In December, he had the following job activity:MaterialsBeginningInventoryDirect LaborJobAddedAddedP 28,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Direct materials Direct labor Overhead applied Additional Information Job 5 $ 15,800 8,800 4,400 Job 6 $ 33,400 15,000 7,500 Job 7 $ 27,400 Total transferred cost 21,800 10,900 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,400; direct labor, $2,200; and applied overhead, $1,300. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. 4. What is the total cost transferred to Finished Goods Inventory in June?
Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Direct materials. Direct labor Overhead applied Job 5 $ 15,800 8,800 4,400 Job 6 $33,400 15,000 7,500 Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,400; direct labor, $2,200; and applied overhead, $1,300. Job 5 was finished in June. Predetermined overhead rate b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. 3. What is the predetermined overhead rate? Job 7 $ 27,400 21,800 10,900 %
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Can you please show how its done? I got $75,000 and its not correct
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